中炬高新 2024 年年度股东大会会议资料 中炬高新技术实业（集团）股份有限公司 2024 年年度股东大会会议资料 会议时间：2025 年 5 月 7 日 14 点 30 分 会议地点：广东省中山火炬开发区厨邦路 1 号 广东美味鲜调味食品有限公司综合楼 904 中炬高新 2024 年年度股东大会资料 中炬高新技术实业（集团）股份有限公司 2024 年年度股东大会会议资料目录 | 中炬高新 | 2024 | 年年度股东大会议程 1 | | --- | --- | --- | | 中炬高新 | 2024 | 年度董事会工作报告 2 | | 中炬高新 | 2024 | 年度监事会工作报告 3 | | 中炬高新 | 2024 | 年度财务决算报告 7 | | 中炬高新 | 2025 | 年度财务预算报告 12 | | 中炬高新关于 | | 2024 年度利润分配议案 14 | | | | 中炬高新关于续聘会计师事务所的议案 16 | | | | 中炬高新关于减少公司注册资本的议案 16 | | 中炬高新关于 | | 2025 年度日常关联交易预计情况的议案 22 | | | | 中炬高新关于购买董监高责任险的议案 ...

Investment Rating - The report maintains an "Overweight" rating for the food and beverage industry [1] Core Insights - The food and beverage industry is gaining attention due to increased external uncertainties and positive domestic policy signals, with a focus on boosting domestic demand as a key driver for economic growth [12][16] - The liquor sector is expected to show a "front low, back high" performance trend for the year, with a focus on inventory digestion in the first half and gradual demand recovery in the second half [17][32] - The consumer goods sector, particularly those related to the catering supply chain and benefiting from fertility policy catalysts, is highlighted for potential investment opportunities [39] Summary by Sections 1. Policy Expectations and Industry Focus - Increased external uncertainties have led to a heightened focus on domestic demand as a crucial element for economic growth [12] - Recent government policies aimed at boosting consumption have positively influenced market confidence, with a comprehensive action plan to enhance consumer spending [13][16] 2. Liquor Sector - Liquor sales during the Spring Festival saw a year-on-year decline of approximately 10%, with a focus on inventory management during the off-peak season [17] - High-end liquor demand remains stable, while mid-range and regional brands are experiencing varied performance based on market conditions [19] - Major liquor companies are engaging in share buybacks and increasing shareholdings to bolster market confidence [24][30] 3. Consumer Goods Sector - The report emphasizes the importance of sectors related to the catering supply chain, with specific attention to the seasoning, beer, dairy, and snack segments [39] - The seasoning sector is expected to benefit from a recovery in restaurant consumption, while the beer sector is poised for growth due to the resurgence of dining scenarios [40] - Dairy demand is anticipated to rise following the introduction of fertility subsidies in various regions, which could positively impact dairy company performance [39]

Investment Rating - The report maintains a "Recommendation" rating for the food and beverage industry, particularly highlighting the white wine sector as it is expected to clear and stabilize, with gradual improvements in the mass market [1]. Core Insights - The white wine sector is currently in a clearing and bottoming phase, with expectations for marginal improvement in the second half of the year. The industry has seen risks transition from off-balance sheet channels to on-balance sheet for most listed companies, leading to a slight slowdown in payment and delivery progress in Q1. However, leading companies have largely completed their initial targets for the year [4][9]. - In the mass market, beer shows signs of marginal improvement, with standout performance in the snack category, particularly for konjac products. The dairy sector is expected to rebound in Q2 after a period of adjustment [19][25]. Summary by Sections White Wine Sector - The white wine sector is in a clearing and bottoming phase, with expectations for improvement in the second half of the year. Q1 saw a slowdown in payment and delivery, but leading companies have met their initial targets [4][9]. - High-end brands like Moutai and Wuliangye are expected to see revenue and profit growth of approximately 9% and 10%, and 4% and 3% respectively in Q1 [10][12]. - The mid-range segment is experiencing varied performance, with brands like Fenjiu and Gujing showing growth, while others like Yanghe are facing challenges [10][12]. Mass Market - The beer sector is showing signs of recovery, with leading brands like Qingdao and Yanjing achieving revenue growth of 4% and 6% respectively in Q1 [26][29]. - The snack segment, particularly konjac products, is performing well, with brands like Salted and Wei Long seeing significant growth [19][25]. - The dairy sector is expected to improve as inventory levels stabilize, with companies like Yili and Mengniu showing resilience [25]. Investment Recommendations - The report suggests bottom-fishing in the white wine sector, with a focus on brands like Moutai, Wuliangye, and Fenjiu, while also recommending attention to the mass market for potential turning points in beer and dairy [5][19].

Group 1 - The core viewpoint of the company is focused on its marketing transformation progress, which includes customer segmentation management, marketing system construction, and price recovery efforts, particularly in new retail management, showing positive growth momentum [1] - The company aims for a balanced approach between internal transformation and external mergers and acquisitions (M&A), targeting high single-digit organic growth while pursuing higher growth through M&A, emphasizing quality and sustainable development rather than merely achieving performance targets [2] - The company acknowledges a decline in R&D expenses due to structural adjustments and optimization efforts, with plans to enhance collaboration with universities and experts, increasing R&D investment to shift from a follower to a leader in innovation capabilities [3] Group 2 - The company plans to strengthen channel construction in four key areas: repairing the price system in the South China market, adjusting distributors in key account channels, enhancing new retail channels, and increasing development in the catering channel to create new growth points [3]

Group 1 - The core viewpoint of the article highlights the significant presence of large private equity firms in the A-share market, with 21 private equity firms holding shares in 51 A-share companies, totaling a market value of 20.2 billion yuan as of April 14 [2] - In the fourth quarter, 16 new stocks were added by private equity firms, 7 stocks were increased, 17 stocks remained unchanged, and 11 stocks were reduced [2] - The distribution of heavy holdings by private equity firms shows that the basic chemical industry had the highest number of stocks at 10, followed by the electronics industry with 9, and both machinery equipment and pharmaceutical biology industries with 6 each [2] Group 2 - Gao Yi Asset held 11 stocks in the fourth quarter, with a total market value of 10.194 billion yuan, including a new investment in Yangnong Chemical of 3.932 million shares valued at 2.275 billion yuan [2] - Gao Yi Asset increased its holdings in Tong Ren Tang, Zhongju High-tech, Zijin Mining, and Ruifeng New Materials, with respective increases of 8.5 million shares, 7.7 million shares, 7.2151 million shares, and 1 million shares, valued at 954 million yuan, 694 million yuan, 5.169 billion yuan, and 619 million yuan [2] - Gao Yi Asset maintained its holdings in Shengyi Technology and Tiandi Technology, with market values of 1.203 billion yuan and 104 million yuan respectively, while reducing its holdings in Yuntianhua, Angel Yeast, Dongcheng Pharmaceutical, and Health元 by 942,400 shares, 10 million shares, 1 million shares, and 1,854,640 shares respectively [3]

证券代码：600872 证券简称：中炬高新 公告编号：2025-022 1 中炬高新技术实业（集团）股份有限公司 关于减少公司注册资本的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 中炬高新技术实业（集团）股份有限公司（以下简称：公司）于 2025 年 4 月 11 日召开第十届董事会第二十九次会议，审议通过了《公 司关于减少公司注册资本的议案》。依据中炬高新技术实业（集团） 股份有限公司（以下简称：公司）《2024 年限制性股票激励计划》 （以下简称：《激励计划》）的相关规定，公司拟对股权激励对象已 获授但尚未解除限售的共计 4,231,166 股限制性股票进行回购注销， 并对应减少公司注册资本。 一、本次减少注册资本的原因 鉴于公司 2024 年限制性股票激励计划激励对象中有 13 人因离职 不再符合激励对象条件，同时第一个解除限售期公司层面业绩考核未 达标、不满足当期限制性股票解除限售条件，根据《激励计划》的相 关规定，公司拟对上述激励对象已获授但尚未解除限售的共计 4,231,166 股限制性股票进行回购 ...

证券代码：600872 证券简称：中炬高新 公告编号：2025-023 中炬高新技术实业（集团）股份有限公司 关于 2024 年度日常关联交易完成情况 暨 2025 年度日常关联交易预计情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ●是否需要提交股东大会审议：是； ●日常关联交易对公司的影响：本次公司 2025 年度预计日常关联 交易额度的事项是因正常生产经营需要而发生的，不会影响公司的经 营独立性。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 1、独立董事专门会议审议 公司于 2025 年 4 月 11 日召开独立董事专门会议，会议以 3 票赞 成、0 票反对、0 票弃权，审议通过了《公司关于 2025 年度日常关联 交易预计情况的议案》，独立董事认为公司与关联方发生的日常关联 交易本着自愿、公平、公允的原则进行，不存在损害公司及中小股东 利益情形，不影响公司独立性，对经营成果影响较小。独立董事同意 将上述关联交易事项提交公司第十届董事会第二十九次会议审议。 2、董事会审议 ...

证券代码：600872 证券简称：中炬高新 公告编号：2025-024 中炬高新技术实业（集团）股份有限公司 关于参与设立投资基金暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 1 为提升中炬高新技术实业（集团）股份有限公司（以下简称：中炬高新、 公司）产业拓展能力，有效把握新的市场机遇，公司拟作为有限合伙人， 与上海鼎晖百孚投资管理有限公司（以下简称：鼎晖投资）、中山火炬 电子产业基金管理有限公司（以下简称：火炬电子产业基金）等合作方 共同发起设立中山火炬华盈鼎晖产业基金（有限合伙）（暂定名，以工 商核准为准）。 鉴于火炬电子产业基金与公司第一大股东中山火炬集团有限公司均由 中山火炬公有资产经营集团有限公司全资控股，且鼎晖投资为公司第一 大股东一致行动人上海鼎晖隽禺投资合伙企业（有限合伙）、嘉兴鼎晖 桉邺股权投资合伙企业（有限合伙）的执行事务合伙人，故本次投资构 成关联交易，但不构成重大资产重组。 截至本公告披露日，过去 12 个月内，公司与鼎晖投资、火炬电子产业 基金发生关联交易的合 ...

证券代码：600872 证券简称：中炬高新 公告编号：2025-025 中炬高新技术实业（集团）股份有限公司 关于召开2024年年度股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 7 日 14 点 30 分 召开地点：广东省中山市火炬开发区厨邦路 1 号广东美味鲜调味食品有限公 司综合楼 904 会议厅 (五)网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年5月7日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 7 日 至2025 年 5 月 7 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投 ...

证券代码：600872 证券简称：中炬高新 公告编号：2025-020 表决结果：3 票赞成，0 票反对，0 票弃权。 详见公司同日披露的《中炬高新关于 2024 年限制性股票激励计划第一 个解锁期解锁条件未达成暨回购注销 2024 年部分限制性股票的公告》。 二、审议通过《公司关于回购注销 2024 年部分限制性股票的议案》； 表决结果：3 票赞成，0 票反对，0 票弃权。 详见公司同日披露的《中炬高新关于 2024 年限制性股票激励计划第一 个解锁期解锁条件未达成暨回购注销 2024 年部分限制性股票的公告》。 中炬高新技术实业（集团）股份有限公司 第十届监事会第十七次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 中炬高新技术实业（集团）股份有限公司（以下简称：公司）第十届 监事会第十七次会议于 2025 年 4 月 8 日发出会议通知，于 2025 年 4 月 11 日上午以通讯方式召开。监事会应到监事 3 名，实到 3 名，本次会议有效 票数为 3 票。本次会议的召集、召开及表决程序符合《公司法》 ...